Eli Lilly and Co (NYSE:LLY) – Leerink Swann increased their FY2020 earnings per share estimates for shares of Eli Lilly and in a note issued to investors on Wednesday, according to Zacks Investment Research. Leerink Swann analyst S. Fernandez now anticipates that the company will earn $5.72 per share for the year, up from their prior estimate of $5.19. Leerink Swann has a “Market Perform” rating and a $93.00 price target on the stock. Leerink Swann also issued estimates for Eli Lilly and’s FY2021 earnings at $5.93 EPS.
LLY has been the subject of a number of other research reports. BMO Capital Markets restated a “sell” rating and set a $71.00 target price on shares of Eli Lilly and in a research note on Thursday, September 28th. Argus upgraded shares of Eli Lilly and from a “hold” rating to a “buy” rating and raised their target price for the stock from $85.52 to $115.00 in a research note on Friday, January 5th. Morgan Stanley set a $86.00 target price on shares of Eli Lilly and and gave the stock a “hold” rating in a research note on Friday, October 6th. Piper Jaffray Companies restated a “buy” rating and set a $105.00 target price on shares of Eli Lilly and in a research note on Friday, October 13th. Finally, Goldman Sachs Group restated a “buy” rating and set a $95.00 target price (up previously from $92.00) on shares of Eli Lilly and in a research note on Thursday, October 5th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $92.14.
Eli Lilly and (NYSE:LLY) last announced its earnings results on Tuesday, October 24th. The company reported $1.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.03 by $0.02. The business had revenue of $5.66 billion during the quarter, compared to analysts’ expectations of $5.52 billion. Eli Lilly and had a net margin of 9.90% and a return on equity of 30.27%. The firm’s revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.88 earnings per share.
Institutional investors have recently made changes to their positions in the stock. Airain ltd acquired a new stake in Eli Lilly and during the 2nd quarter worth approximately $567,000. Buckingham Asset Management LLC boosted its position in Eli Lilly and by 21.3% during the 2nd quarter. Buckingham Asset Management LLC now owns 3,232 shares of the company’s stock worth $266,000 after buying an additional 568 shares during the period. BSW Wealth Partners boosted its position in Eli Lilly and by 0.6% during the 2nd quarter. BSW Wealth Partners now owns 4,774 shares of the company’s stock worth $393,000 after buying an additional 27 shares during the period. Sumitomo Life Insurance Co. boosted its position in Eli Lilly and by 4.4% during the 2nd quarter. Sumitomo Life Insurance Co. now owns 32,507 shares of the company’s stock worth $2,675,000 after buying an additional 1,370 shares during the period. Finally, Mirador Capital Partners LP lifted its position in shares of Eli Lilly and by 5.3% in the 2nd quarter. Mirador Capital Partners LP now owns 12,280 shares of the company’s stock worth $1,011,000 after purchasing an additional 619 shares during the period. 76.31% of the stock is currently owned by institutional investors.
In related news, SVP Alfonso G. Zulueta sold 2,003 shares of Eli Lilly and stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $83.67, for a total transaction of $167,591.01. Following the sale, the senior vice president now directly owns 43,580 shares of the company’s stock, valued at approximately $3,646,338.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Lilly Endowment Inc sold 200,000 shares of Eli Lilly and stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $88.20, for a total transaction of $17,640,000.00. Following the sale, the insider now directly owns 123,084,104 shares in the company, valued at $10,856,017,972.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 251,088 shares of company stock worth $22,041,236. Insiders own 0.20% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Thursday, February 15th will be issued a $0.5625 dividend. This is a positive change from Eli Lilly and’s previous quarterly dividend of $0.52. This represents a $2.25 annualized dividend and a yield of 2.60%. The ex-dividend date of this dividend is Wednesday, February 14th. Eli Lilly and’s dividend payout ratio (DPR) is currently 99.05%.
Eli Lilly and Company Profile
Eli Lilly and Company is engaged in drug manufacturing business. The Company discovers, develops, manufactures and markets products in two segments: human pharmaceutical products and animal health products. The Company’s human pharmaceutical business segment sells medicines, which are discovered or developed by its scientists.
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